Legis Daily

Mind Your Own Business Act of 2021

USA117th CongressS-2829| Senate 
| Updated: 9/23/2021
Marco Rubio

Marco Rubio

Republican Senator

Florida

Banking, Housing, and Urban Affairs Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Mind Your Own Business Act of 2021 This bill requires a large publicly traded company, as a condition of being listed on a national securities exchange, to establish in the company's articles of incorporation or bylaws certain duties and procedures regarding a claim against a corporate defendant for breach of fiduciary duty resulting from a material action. A material action taken by a corporate actor covered by this bill includes an action taken primarily in response to a state law, state regulation, or state legislation relating to the manner in which elections are conducted in the state, protecting religious freedom, or limiting the availability of abortion services; an action to promote certain social issues; or other actions unrelated to the company's pecuniary interest. Actions not covered by this bill include charitable contributions, certain exercises of religion, activity related to national security, and the limitation of business with certain nations and entities.
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Timeline

Bill from Previous Congress

S 116-2637
Mind Your Own Business Act of 2019
Sep 23, 2021
Introduced in Senate
Sep 23, 2021
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
  • Bill from Previous Congress

    S 116-2637
    Mind Your Own Business Act of 2019


  • September 23, 2021
    Introduced in Senate


  • September 23, 2021
    Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Finance and Financial Sector

AbortionAdministrative law and regulatory proceduresBusiness ethicsCivil actions and liabilityCorporate finance and managementElections, voting, political campaign regulationFinancial services and investmentsReligionSecuritiesSecurities and Exchange Commission (SEC)State and local government operations

Mind Your Own Business Act of 2021

USA117th CongressS-2829| Senate 
| Updated: 9/23/2021
Mind Your Own Business Act of 2021 This bill requires a large publicly traded company, as a condition of being listed on a national securities exchange, to establish in the company's articles of incorporation or bylaws certain duties and procedures regarding a claim against a corporate defendant for breach of fiduciary duty resulting from a material action. A material action taken by a corporate actor covered by this bill includes an action taken primarily in response to a state law, state regulation, or state legislation relating to the manner in which elections are conducted in the state, protecting religious freedom, or limiting the availability of abortion services; an action to promote certain social issues; or other actions unrelated to the company's pecuniary interest. Actions not covered by this bill include charitable contributions, certain exercises of religion, activity related to national security, and the limitation of business with certain nations and entities.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline

Bill from Previous Congress

S 116-2637
Mind Your Own Business Act of 2019
Sep 23, 2021
Introduced in Senate
Sep 23, 2021
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
  • Bill from Previous Congress

    S 116-2637
    Mind Your Own Business Act of 2019


  • September 23, 2021
    Introduced in Senate


  • September 23, 2021
    Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Marco Rubio

Marco Rubio

Republican Senator

Florida

Banking, Housing, and Urban Affairs Committee

Finance and Financial Sector

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
AbortionAdministrative law and regulatory proceduresBusiness ethicsCivil actions and liabilityCorporate finance and managementElections, voting, political campaign regulationFinancial services and investmentsReligionSecuritiesSecurities and Exchange Commission (SEC)State and local government operations